Strategic Price Simulation
Ensure that Selected Strategy Achieves Objectives Prior to Execution
Shopping and pricing have been democratized. Every day retailers are trying to figure out how to win more customers, retain the ones they have, while driving more sales, earning more profit and increasing their gross margins. At the same time they are dealing with fluctuating costs from manufacturers.
With an infinite number of strategies that can be implemented or business rules and constraints that have been in place for years, retailers are often risk averse for fear of making a mistake and unsure when a strategy requires adjustment. The course of no action can seem like the better alternative without the data to understand the impact a change will have on the business’s financial performance.
Revionics® Strategic Price Simulation prepares retailers for the inevitable market changes. Using sophisticated predictive analytics and forecasting, retailers can test new strategies and/or changes in rules and constraints, simulate and compare, side by side, different outcomes before implementing them in the market. Thus, giving retailers the enduring edge to increase their competitive advantage.
Along with Revionics® Price Management, Revionics® Price Optimization and Revionics® Dynamic Pricing, Revionics Strategic Price Simulation is part of the Revionics® Price Suite, which delivers solutions for all retailers regardless of current pricing processes or sophistication.
Why Revionics Strategic Price Simulation?
- Simulates future options, while maintaining current pricing goals and rules
- Simulate against multiple categories strategies, such are margin growth, revenue goals, image enhancement, and traffic building
- Side-by-side comparisons of multiple scenarios with high-level and down to the item-level prediction and forecasting
- Anticipates and responds to market trends
- Identify achievable strategies and when it’s time to adjust
- Eliminates costly mistakes by predicting and validating results before rollout
- Strategically absorbs market disruptions, and unlocks new opportunities
- Intelligently adjusts for any new competitors
- Easily implement new strategies at the touch of a button
Key Solution Features
Revionics® Strategic Price Simulation prepares retailers for inevitable market changes. Using sophisticated predictive analytics and forecasting, retailers can test new strategies and/or changes in rules and constraints, simulate and compare different outcomes before implementing them in the market.
Revionics best-in-class capabilities enable you to:
- Compare and contrast different options in-season and pre-season
- Validate current strategies, optimize and compare multiple strategies at multiple levels of the hierarchies or key items
- Relax and/or change business rules and constraints to predict outcomes
- Visualize and predict the impact of different competitive strategies
- Understand the best price changes to achieve defined margin improvement goals
- Understand how to best negotiate improved vendor costs
- Understand the cost of updating key value items
- Easily execute new strategies with predictable outcomes
Strategic Price Simulation Benefits
Revionics enables performance-driven retailers to create a sustainable competitive advantage and undeniable ROI in today’s new retail reality. Our proven SaaS-based pricing solutions offer the speed, intuition, transparency and scale that retailers need to achieve Responsive Retail in an era when business strategy intersects with data science.
Revionics® Strategic Price Simulation enables you to drive improved performance and competitive advantage.
- Anticipate and respond to market changes with predictable outcomes
- Simulate and test different strategies across different time periods before releasing to market
- Analyze the impact of planned price and cost changes
- Unlock hidden financial benefits
Revionics solutions deliver usable science that aligns to your strategies with adaptive, self-learning models and transparent results explaining the "why" behind recommendations.